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Worldwide Prepaid Card Market 2017 Trends & Opportunities

Dallas, TX -- (SBWIRE) -- 01/07/2015 -- The prepaid card market has a promising future in most of the countries chiefly due to its growing awareness and convenience of usage. As prepaid cards are not linked to the bank accounts of the consumers, there is no fear of paying overdraft charges to the banks. One of the major features which prepaid cards provide is that the consumers cannot exceed the amount of funds that is loaded onto them. Developing countries are accepting the prepaid cards more than the developed countries.

Prepaid cards are classified into open-loop and closed-loop prepaid cards. The demand for closed-loop prepaid cards is limited as they can be used only at some specific location. Therefore, these types of cards are widely used in developing countries. On the other hand, open-loop prepaid cards can be used everywhere where debit and credit cards are accepted and thus, they are used more often in developed countries but now developing countries are also accepting this category of prepaid cards. Major features, which open-loop provides is that they are accepted internationally and consumers need not carry cash everywhere so the risk of money being stolen is completely avoided.

One of the major factors that are driving the growth of prepaid cards is its functionality to meet the requirements of unbanked and underbanked individuals. Gift card is the largest growing segment among the prepaid cards and apart from this the demand for prepaid cards arises majorly from the government benefit cards.

The report titled "Global Prepaid Card Market: Trends & Opportunities (2012-2017)" offers an in-depth analysis of demand of prepaid cards in the top nine countries which accounts for the maximum share of the number of prepaid cards. The top nine countries for prepaid cards analyzed in the report include Italy, United States, Brazil, Russia, India, China, South Africa, Iran and Indonesia.

The report also analyzes the future growth of the global prepaid card industry taking into consideration various aspects like previous growth patterns, growth drivers and challenges.

Further, top players operating in the global prepaid card industry has been assessed, specifically their performance and their business strategies. The key players discussed in the report include Green Dot Corporation, NetSpend Holding, Western Union Company, J.P Morgan Chase & Co. and American Express.

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